While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
Wipro, which gets bulk of its topline from IT services, said it expects revenues from that business to be in the range of $2,095 million to $2,137 million in the March quarter - a sequential growth of flat to 2 per cent.
The company's IT services segment had a headcount of 158,217.
Thierry Delaporte's pay package would be around 34 per cent higher than the total compensation that Wipro CEO Abidali Neemuchwala received in financial year 2019-20 (FY20). It also brings the Wipro CEO's salary on par with other top IT firms such as Infosys and Cognizant.
Wipro is likely to take a beating when the market commences on Thursday as analysts expressed disappointment over its just-released numbers.
Wipro posted a 4.6 per cent rise in revenue at Rs 15,711 crore in January-March quarter compared to Rs 15,006.3 crore in the year-ago period.
The IT services company is building underlying tech for connected cars
Wipro has guided for 0.8-2.8 per cent sequential growth in IT service revenue for December quarter, saying revenue from that business is expected to be $ 2,065-2,106 million.
The Wipro board has also approved a Rs 10,500 crore buyback plan under which it will buy back up to 32.3 crore shares at Rs 325 apiece.
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
Digital, cloud, engineering services, and cybersecurity will drive Wipro's growth. 'Based on approval from the board, we have decided to step up our investments significantly in these four big bets,' Premji said in his last address as executive chairman.
Cybersecurity blog KrebsOnSecurity had said Wipro's systems had been breached and were being used to launch attacks against some of its clients.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
IT majr Wipro needs stability at the top deck, say industry watchers.
'No one manufactures intelligence at the moment.' 'This is a concept that your IT industry understands.' 'What you need is infrastructure. Everything else can then be taken care of.'
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Wipro Infotech - the Asia-Pacific and West-Asia arm of the $4 billion Wipro Limited - has restructured its operations. The company has transferred majority of its business to global IT division, Wipro Technologies. Wipro Infotech has also undergone other management changes, and re-alignment of various verticals. According to the mail, Anand Sankaran is being appointed chief executive of Wipro Infotech.
The IT major is donning a new face for the changing times, says Ayan Pramanik.
The IT major is donning a new face for the changing times, says Ayan Pramanik.
Wipro on Monday said its shareholders have approved the company's plans to hive off non-IT business into unlisted arm.
The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.
Wipro Technologies, the global IT services division of Wipro Ltd, and Mercury Interactive Corporation on Tuesday unveiled the Mercury Centre of Excellence (CoE) at Wipro's Electronic city campus in Bangalore.
Wipro Ltd, a provider of IT solutions and services including systems integration, information systems outsourcing and IT-enabled services, says it has not been affected by the crisis in West Asia and will continue to invest in the region. Wipro already has a company -- Wipro Arabia, formed in 2007 through a joint venture with the Dar Al Riyadh Group -- providing IT solutions and services in the Kingdom of Saudi Arabia.
Speculation is rife that the number could go as high as 2,000.
With a 13 per cent rise in quarterly profit, India's third-largest software services exporter, Wipro limited, said on Wednesday that it was adapting successfully to the global meltdown.
Wipro said recently it was expecting its revenue growth to drop 2.33 per cent or stay flat between $2,015 and $2065 million.
India's largest IT services company Tata Consultancy Services (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore in the first quarter ended June 2024. The net profit for the year-ago period stood at Rs 11,074 crore.
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
Wipro Lighting, the consumer products division of Wipro Ltd., has tied up with Concord of UK to sell its architectural range of lighting products in India.
Wipro has taken various initiatives to infuse a green element into its business, by offering solutions that would help the company and its customers optimise energy efficiency and deal with waste
Wipro, the software to vanaspati maker, has effected key management changes to drive the company in the next phase of growth.
'We are not in the race of how much is the revenue, but how good is the revenue.'
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
IT major Wipro Infotech on Friday started its operations from the Infopark in Kerala, aiming to make its Kochi unit one of its key complexes.
Demerger to cut Premji holding by 2.7 per cent, investors to get 12 per cent more for their shares.
.jpg)
Currently, the Shannon Development Centre employs over 200 professionals, delivering IT and business process services' offerings to marquee retail banking and insurance customers across Ireland and the UK.
"We are selectively looking at acquisitions it will be a string of smaller ones," Wipro chairman Azim Premji told reporters on the sidelines of a conference.
